Westpac Bank Insurance Refund
A class action was filed against Westpac, Westpac General, and Westpac Life in February 2020 representing a group of victims who added consumer credit insurance (CCI) to their Westpac personal loans, credit cards, or flexi loans. The products named in the suit are as follows:
- Westpac Personal Loan Protection
- Westpac Flexi Loan Repayment Protection
- Westpac Credit Card Repayment Protection
The class action accused the respondents of committing a range of wrongdoings:
- Engaging in deceptive or misleading conduct (e.g., neglecting to inform clients about the optional or non-compulsory nature of the insurance products sold)
- Engaging in deceptive or misleading conduct (e.g., neglecting to inform clients about the optional or non-compulsory nature of the insurance products sold)
- Securing sales by leading clients to believe their policies were compulsory or valuable when they were not
- Engaging in unconscionable conduct, such as the unfair tactic of not providing clients with adequate opportunity to consider the viability of the policies purchased
- Unlawful provision of advice over the phone or at a branch
The Westpac class action was filed after the establishment of the Banking Royal Commission in 2017, which found that some financial institutions were employing unfair strategies to sell unnecessary CCI (Consumer Credit Insurance) products to clients unable or unlikely to make claims.
Consumers do get missed throughout this process, usually because of lost details or a change of personal contact information. Through a class action suit, there isn’t a payout of your full premiums. It is also only on certain products, and the payouts are shared with the total group members.
This is why Get My Refund investigates each victim’s individual case to fight for all of the funds owed, from all accounts on all potential mis-sold products.
Get My Refund has all the knowledge and expertise necessary to make good on taking advantage of the underprivileged. Our mission is to extract proper compensation for the affected.
Who Is Eligible for the Refund?
If at any point since January 1, 2010, you:
- Were issued a Westpac Personal Loan Protection, Credit Card Repayment Protection, or Flexi Loan Repayment Protection policy
- Paid the premium on the policy or policies as listed above
As of September 2020, the Federal Court of Australia mandated that all victims be informed of their potential membership in the class action. If both of these conditions apply to you, you should or should have received a notice for the “Westpac Consumer Credit Insurance Class Action”. The ‘no win no fee” agreement means that participants do not incur any legal costs unless it is successful.
- Extended motor warranty